Brent futures dropped US$4.72, or 6.9%, to settle at $63.28 a barrel, while U.S. West Texas International (WTI) crude fell $4.60, or 7.1%, to settle at $60.
NEW YORK: Oil prices plunged for a fifth day in a row on Thursday, posting their biggest-one day declines since last summer on growing worries about rising COVID-19 cases in Europe and the strengthening U.S. dollar.
Several large European economies have had to reimpose lockdowns as caseloads rise, while vaccination programs are slowing due to concerns about side effects of the AstraZeneca vaccine that was being widely distributed in Europe.
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